Maintenance of books not required for filing ITR u/s 44AD-ITAT set-aside order u/s 263

Ashok Kumar Vs PCIT (ITAT Delhi) Assessment for the impugned AY was framed u/s 143 (3)/147. The case was selected u/s 147 for cash deposit of Rs.44,72,000/-. In response, assessee filed return u/s 44AD and stated that during previous year he was doing business of petty contractor of civil labour work in Rajasthan. It was found that assessee deposited cash in multiples of lakh and hence, could not be treated as petty contractor as claimed. No documentary evidence is available on record which can prove the source of cash deposit. No enquiry was made in this connection in this case. Hence, the en...